Link Fund Solutions has launched seven new sub-funds on behalf of the ACCESS, adding £5.5 billion to the LGPS pool.
The transfer of assets to the range of global and equity externally-managed sub-funds brings the total pooled assets under management within ACCESS to £31 billion, with £20.4 billion managed actively within the LFS Authorised Contractual Scheme (ACS) and a further £10.7 billion in passive funds.
The sub-funds launched in November and December 2020 include the LF ACCESS Global Alpha Equity Fund and LF ACCESS Sterling Aggregate Bond Fund managed by Baillie Gifford, and the LF ACCESS UK Equity Fund managed by Majedie Investments.
With these new funds, ACCESS now provides each local authority with the opportunity to join 22 actively-managed sub-fund strategies via the ACS platform operated by Link Fund Solutions.
“These funds enable the local authorities to allocate towards pooled vehicles that benefit from the increased economies of scale, reduced costs and greater access to investment strategies they may not have the resources to reach outside of a pool,” said Councillor Mark Kemp-Gee, chairman of the ACCESS Joint Committee.
“The ACCESS Joint Committee works closely with LFS who have selected these fund managers so they can deliver the cost savings and investment performance required as part of our successful track record since the launch of the pool,” he added.